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natulia [17]
1 year ago
10

Carrington Corporation produces canned vegetable soup. The company uses the weighted-average method in its process costing syste

m. The company sold 300,000 units in January. Data concerning inventories follow: Inventory at January 1: Work in process None Finished goods 75,000 units Inventory at January 31: Work in process (75% complete with respect to conversion costs) 24,000 units Finished goods 60,000 units What were the equivalent units for conversion costs for January? A) 285,000 units. B) 303,000 units C) 300,000 units D) 309,000 units
Business
1 answer:
agasfer [191]1 year ago
4 0

Answer:

Option (B) is correct.

Explanation:

100% complete for conversion cost the units that are complete.

Units that produced during the period:

= Units sold + Units of finished Ending - Beginning units of Finished

= 300,000 + 60,000 - 75,000

= 285,000 units

And work in process at ending is 24,000 units but for conversion costs is 75% only.

For conversion Equivalent units:

= 75% of Ending Work in process + Units that produced during the period

= 75% × 24,000 + 285,000

= 18,000+285,000

= 303,000 units

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<u>Calculation of Return on Total Assets:</u>

Return on Total assets can be calculated using the following formula:

Return on Total Assets = Net Income / Total Assets

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1 year ago
Your catering business sells luncheons and dinners. Luncheons are $1,000 each, and dinners are $2,000 each. You sold 300 meals i
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1 year ago
Emilio works in a power plant control room. Dawn works in a coal mine. What do Emilio and Dawn have in common? They both are sel
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2 years ago
After sugar refiner has produced fine sugar for baking purposes, what is left over is used to produce molasses. This technology
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Answer:

ECONOMIES OF SCOPE

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